the quarter is a little stronger we see the future picked up. have a great weekend everybody, we'll see you next week. right now it is time for "squawk on the street" ♪ it is friday morning, welcome to "squawk on the street. i am carl quintanilla with jim cramer and david faber that's going to help the stocks finish a strong first week after the quarter after the best q-1 in years our road map is going to begin with the jobs bounce back.

stocks start to rally after better expected numbers. >> plus, work it out federal judge gives elon musk and the sec two weeks to set out their differences. dimon and dalio is speaking out. february payrolls were revised upward to regain 33,000 from 23,000 average hourly earnings edge up slightly 3.2 and it was a bit on earnings we lost some manufacture jobs for the first time in three years. >> i saw the number. healthcare when up and manufacture went down. every time we see healthcare go up, no offense to people for healthcare that's a loss for gdp. when you see manufacture, industrial goes down is that part of what happens in december where we had crisis of

confidence that maybe things were going to slow you want to see the numbers reversed this is a good number. you got to see how healthcare go down one of the great things of the walgreens call, certainly nothing good about walgreens the cost for healthcare were coming down and cost for reimbursement to the customers if they start building that backup then we'll have another bump up in the cost of healthcare and that's different. >> overall it is a number that you would expect at this stage of an expansion. >> it is fine. next week matthew boss has his retail conference, jp morgan >> february is one of the oddest february march is a little bit of bounce back february is a month where, the

amount of beer that was consumed in this country was so much in the month of february because it was cold and wet you know when beer consumption is down. that's the weather pattern >> well, consumption had been down though and not going up >> although boston beer was not. >> i have to tell you that woucone of the things i am told, the fight between bud and koors have hurt both of them. >> what about the corn syrup >> who knew? >> it is not in the beer, it is used if the process. >> by the way, what's the hottest beer in america? >> what's the hottest beer in america? >> you are the jeopardy player >> it has a long neck and it begins with the letter t

it is one of the oceans. pacifi pacifica. >> that was a fast pivot from jobs number to alcohol >> when you have a jeopardy guy on the show, you got to use it periodically >> what is pacifico. >> i think we are fine i want the cover for jay powel to continue to go with trump how is that? >> that'll be quite -- hey, those can be fun >> yes, they could if you are going to have god father pizzas, too >> steven moore, do you think he'll listen to me he plays an economist on tv, right? >> yes, i believe he does.

>> it is like dr. marcus weld. we'll hear from kudlow we'll see, this number shows to be a 15 bases point cut now. >> that was the old vice strategy i found that when you have a severe recession, that's a good thing to do. when you have one of the greatest jobs numbers, it seems ill advised calling at the bases point. it was the greatest year in new york sports ever >> that's what you think if you are in new york. the knicks the jets and the mets. you have to move on. >> knicks, jets and mets >> this time it was just me. i don't need to hear about how good the mets are. they came to play. >> and the conspiracy theater is david is mr. mets.

because they rarely been seen together >> i took that thing -- i was down there giving him this >> you were. >> shares at tesla, fall after 8% on reaction of misdeliveries. musk and sec having two weeks to dissolve their dispute musk talked to phil lebeau right after the hearing. >> judge nathan is an outstanding judge. very excellent >> do you this i you can work this out with the sec the next two weeks? >> looks like it >> the quote making the rounds today is put your reasonable pants on >> i never heard sponge bob square pants being invoked in

court. >> this is embarrassing for the sec and did not see it coming. and elon musk talked about what a great judge he was after the most important thing is the number of deliveries yesterday was the day where the deliveries were so bad that the stock lost 10% of its value. the judge did not understand the importance of deliveries and what it meant to stocks. the judge seems to say sec, are you kidding me there was a bit of a, i think, a disconnect between the judge and what wall street looks at. a disconnect >> that was incredible why did they append the research piece just to show her how material this was. she basically said go put some pants on and get it together >> she indicated the sec acted

irrationally >> it was a total slap down at the sec. >> musk is glad he showed up she's like -- i am surprised >> none of that had much to do with the fact or at least this point is not necessarily seen or has put into some jeopardy i am going back to the fundamentals let alone the 500 he put in the origin original tweet >> she was so clueless of what was the real driver here if you say it is 500,000, that means the stock should be 400. the judge wanted to put on their reasonable pants was that the golden slacks >> sounds like you don't agree with her

you this i tnk the sec has stro case of contempt >> sec is about wall street. >> i don't want to say she's clueless and did not know what she's talking about. that would be too harsh, i think she's ill-advised. >> maybe it is not something that rise to contempt. figure it out. >> you can't get more contempt he was basically saying the only serious sec is the one that's on cbs, right even with all those violations >> david, the people at sirius xm don't know you are mocking me with that silence >> why do you think i am mocking you. i sit and listen to you. i like to listen to you. >> when you are going on the three-day sabbatical, did you watch the show at all? >> it was hard >> did you give people a stomach

flu. >> no. thankfully i did not have that if i had that, i may have been gone you would not see me again >> i thought it was that home games. >> you don't travel well jaime dimon weighing in on u.s./china trade and ray dalio sending a message as well. kevin plank, take a look at the premarket here that jobs number ocfure8.ment holds at 3. stk tu is looking pretty good, we'll be back in a minute. drivers just wont put their phones down.

we need a solution. introducing... smartdogs. the first dogs trained to train humans. stopping drivers from: liking. selfie-ing. and whatever this is. available to the public... never. smartdogs are not the answer. but geico has a simple tip. turn on "do not disturb while driving" mode. brought to you by geico.

jaime dimon continuing to speak out after defending capitalism in his annual letter. yesterday jaime dimon says moore and cain don't seem like the right people to put on the fed he weighed in on the u.s./china deal talks as well >> lighthizer and mnuchin have been doing a good job. i am told they made a huge amount of process in details

we don't want a soybean deal i was not in favor of the tariffs and threatening and stuff. the business aside, we are viewers, you got to deal with the serious issues whatever that means for the economy. >> he didn't say pursuing a deal was absolutely right and talked a bit about how he briefly consider running for president, he didn't talk to many people about it >> i think that one of the things that jamie understand is the time it is not one of those moments in history where a banker be considered illogical way for either party to go i think he feels badly about that there was a time when banker is certainly more respective. i think he views himself very much as jimmy stewart as a wonderful life and people think he's saving loans.

he's much more regarded as all banks are. that's just -- he can' understand that and he feels bad about it the letter, we have a lot of common grounds in this country it is just not being sport properly i thought he put it out well in his letter it read what a presidential candidate may be saying 20 years ago. is that a non-controversial? >> the post from ray dalio of bridgewater is much more interesting in some way. >> provacative >> very long by the way, part 2, is coming today. capitalists is no longer working. it is not working well for the majority and americans and producing he says self reenforcing and this is creatin

widening income/wealth and opportunity gaps that pose exitenial. we have seen many of these charts before and many of them speaking to what he believes is a lack of education to adjust to the current work force and a proper teaching and not. he says paying teachers is enough >> he says capitalists know how to grow the pie but don't know how to share it. these two are going to work together >> one of the things, i am devoted of mark benioff has. the company needs to give up one and one. the benioff is always saying you

got to go write a check to the public school. this is unheard of the public schools have so little as soon as you hear that then someone starts saying whatst 'se union fault? when you go to dinner with benio benioff, he says how many people walked down the block and given a check to public schools. you know he looked at me, what, have you written a check my wife goes down to the public school across the street they don't know what to do and the principal bursts into tears. why? >> everyone with new york with 1.1 million kids at public schools and the budget is not enough it is a huge issue >> is it >> all of these issues are going to be front and center in this

coming am cocaiing campaign >> you think so? >> what worked and what does not and where the far left is. >> i had to take note and i am not blaming jpm. dimon's letter comes out yesterday, today sec's filing the ratio to the median income, this is the function where we are. >> senator warren goes back again. she goes back and says i want to go back to the days we had different ratio. the days of reagan it is incredible how reasonable the position is. i think she advocates about that people think she's an economist. i think it is a pretty good argument is someone smoking cannabis

here >> i can't smell yet really. >> because you are so stuffed, thank you forgiving everybody that >> you can't call it pot anymore because now there is stocks. someone is smoking pot in here on the floor of exchange >> they're not >> come on >> you do smell that >> it is pot but it is legal now, right >> not in new york state >> that did not pass >> what do you have against it >> plastic bags they are all in the trees and in new york city >> earlier we talked about the island and the pacific >> yes, there is that. i was supposed ton he be here fr it >> were you signing in the pacific island of clorox bottles? >> yeah, it is horrible. the amount of waste.

>> taking a stand. right here you are taking a stand. you are against pollution. >> i am. >> whoa. >> we'll get cramer's mad dash, count down to the opening bell this was the "mad dash" on wednesday when david was allegedly out. who knows if that was him with a baseball on his head ""squawk on the street" back in a minute oh, wow. you two are going to have such a great trip. yeah, have fun! thanks to you, we will. aw, stop. this is why voya helps reach today's goals... ...all while helping you to and through retirement. um, you guys are just going for a week, right? yeah! that's right. can you help with these? oh... um, we're more of the plan, invest and protect kind of help...

sorry, little paws, so. but have fun! send a postcard! voya. helping you to and through retirement. (video games have evolved.addle) why hasn't the way you bank? virtual wallet from pnc bank helps make it easier to see what you're spending, stash more into savings and stay on top of your finances in a digital world.

just one way pnc is modernizing banking to help make things easier. pnc bank. make today the day.

let's get our "mad dash" in. bed bath and beyond. >> morgan stanley goes from $13 price target to 20, goes from sell to hold activist pressure, they think one of the they thinks that could happen is they may bring in a good match. >> that's always helpful, i guess. the stocks move dramatically it was three ak vct vilivistacts it has been really terrific. he came in he really helped in. but, you know, david, the idea of bringing a credible management is something that you rarely see in a report by a

major research firm which basically i could have written saying hey listen, these guys have a match that's not credible you know what this company did it bought bad stocks >> i think we should go further back >> well, i think we should have a tellestrator >> so you see this this is where they started buying back stocks, what do they do here? >> we bought enough. >> but anyway, david, a credible match would mean a team that can deal with amazon david, i don't know, if you read the walgreens' conference calls, they did not know how to deal with a.m.smazon. >> it is interesting google is starting to have to deal with amazon >> is that incredible?

>> something we talked about but we should talk about it more >> all they talk about is divorce. i say none of you were business. although she did tweet >> they wanted the world to know >> some people said she got ripped off >> talk about the 1% >> still $35 billion >> only $35 billion. >> we got five minutes before we get started on trading here. don't go anywhere, "squawk on the street" will be right back measure up?

a cfa charterholder does. you've worked hard to grow your wealth. make sure you're working with a wealth manager who can grow with you. cfa charterholders have the investment expertise to unlock opportunities other advisors might not see.

learn what a cfa charterholdr can do for you at therightquestion.org

the financial capital of the world. opening bell is just under two-minutes. unemployment holding steady at 3.8. a slew of target changes, jim, whether it is chipotle or mcdonald's or snap or boeing, got it downgrade by intel by the way. >> valuation is up 19% for intel. i would argue that the whole group got sold down during the bear market that you should not be upset of 19%. intel is not expensive stock

chipotle is now at 700 people are out doing themselves to raise the price target for chipotle it is almost impossible that chipotle delivers to your house. >> why >> too busy with the lines going out the door >> brian nichols, he's the guy that came from taco bell it is doing pretty well by the way. >> a downgrade of micron and downgrade of intel >> cat pierpillar called and st is above trade deal was 150 samsung reported a really bad quarter last night everybody knows that d rams are

soft you have to worry about d rams a couple of quarters from now. i think the downgrade makes no sense. >> let's get to the opening bell on this friday a nice end for the week so far we'll see how it goes. at the big board today david referenced the story a few moments ago, front page on "the journal. amazon resurgence plays in ad spending it impact google dominance 75% of the money they spend on amazon is coming out of the google budget. >> i thought it was really interesting. other people just say look, amazon is a bargain no matter

what web services michael nathan sent out a fabulous piece this morning. how it is possible for tv ads and the web is going up. the web offers such a bargain for small and medium size business i feel the same way about etsy >> we talk some time of the power of the margins aws, power and profits of the company where retail represents the bulk of revenues but not necessarily profits. in search. when you have intent to buy something, what's amazing to me is it is more than 50% now the one that buys something go to the amazon platform instead of going to search as you often did google >> can you imagine the power of a brand where more than half the people just think all right, i will just go to one place? >> amazon is -- they have to be

careful because the populists are going to say that's the one that needs to be broken down >> you go to amazon and you will look there and you will go to other places of course it is quite powerful google still dominants >> yes >> this is becoming a significant form of profit for amazon, seems to be no doubt about that shares will continue to grow >> amazon if you go back to the previous quarter, what happens to the leverage in retail and the answer is, amazon, 47% of growth that's extraordinary 47% growth of a company that has maybe a million dollars in revenue. >> that kind of a growth rate and scale is almost unheard of >> meanwhile alphabet. alphabet is still very important. instagram is a terrific body

there is people that feel that amazon have come on so quickly so quickly >> it is really incredible is amazon advertising. a lot of people felt like no one would subsidize amazon who's a retail all you are doing is going up ge against you. >> they're introducing their own private brands against yours if they find there is a lot of searches for something in particular >> i remember documentary that predicted that or another network. >> you were a visionary. >> ill n will not say that at a. >> maybe you are visionary >> you were a visionary on co chipotle you are all in there >> by the way, a survivor during this whole period.

i said that americans have an 18-month memory. >> who wednesd they had a second thing, we always check the ceiling tower, we don't want rats >> mcdonald's is about half a buck of an all time high as it goes from 2.10 that's a new street highs. you remember earlier in the week, dave and busters streamline theirs as well. >> the more you have on the menu, the more you need in the kitchen. you simplify that and take people out of the labor force. domi domino's used to have three people and they only need two.

it is on you if you screw up the order. >> a lot of disappointing college students late night, my friend hits mcdonald's grub hub >> they just put this thing, topango, delivery on campus, taco bell. >> can you imagine would you ever leave your room i will have 17 red bulls and five burritos, please. >> have you seen snap recently >> oh god. yes, they told the community a lot of things they like to hear how they are reached with the key demographics is quite significant. their stock is 93% the last three mathew knoonths. >> it is more than double for the year

all these targets increase where we are >> it is painful none of them are worse with what happens with apple as the stock went down, people cut the price target really it is kind of -- not value. >> dell technology, morgan stanley, has raised their targets three times a month. they went from 49 to 60. 66 to 68 they think they can pay debt aggressively than others >> i had michael dell on recently the cash flow is enormous. enormous michael dell was saying, why people are saying that my stocks are not dping going up you guys are winning >> dell is winning a lot of businesses >> it was interesting.

if you are euh-u you remember o the numbers they got from ipo for under writing banks for enormous in terms of what they thought the value of dell was came nowhere near them when it came out it is starting to creep up there is a lot to benefit there in terms of leverage because of the cash flow that the company produces the ability to pay down debt >> what you have to do is -- >> i tried to explain to people. how do you look at the stock look at the cash flow. in the cash flow is bountiful, there is a lot of things you can do constellation when i had them yesterday. they sold these low-end wines that business does not do well anymore. they got $1.7 billion from galo.

canopy growth, the provider of pot on the floor at the new york stock exchange i am being facetious but it does smell like that. >> take a listen >> canopy is the leading player in that market if you just think about canada alone, you are going to have a great opportunity then you weigh in, new foreign factors later this year and things like beverage and other edibles we think the sky's the limit >> deutsche goes to hold today >> bill newman is the guy that really understands the business well can opy is taking the medical part and constellation is taking recreational the big issue of recreational is what is the proof, the alcohol

relative proof for thc what knocks you to get you a nice buzz. the industry has to come around to what is the right level they don't know. this is true for the equivalent of drunk driving the lack of uniformity is so far been keeping cannabis beer back. once they get it right constellation is going to own that market. >> jim, we came into the week with our here on fire regarding lyft >> david, speak for yourself >> can we put that behind us, 74.13. >> there is an interesting back story there with lyft. the other day the test came out, we did not buy think stocks and i did not get that now i realize that there was a heavy short move, there was a big short move and this thing was humongous. it got to 60%.

hey, we are not dpoing going to the shorts and l-- the stock breaks it and then the natural buyers come in and syndicate basically threatens the move what's happening the reason why it went down because it did not make any money. well, you know this is a company losing a lot of money which it is i like lyft and i said i was wrong and i am still wrong i like lyft, i can still be wrong. 39% of market is controlled by lyft and 60% is uber you wipe out competition, this is what trust do michael cohen, he was in the business, right? >> and then you raise price and that's what i think is going to

happen that's cla that's classic antitrust >> yes, we do. our friend is still looking out. >> he's good it was apparently the short now. >> that's what going on with lyft >> i want to build anticipation for next thursday. >> oh my god it is going to be webcast. >> the change of course at the company is seminal in terms of what we are going to learn about their plans, it is not just disney plus entertainment offering and the app most likely we'll hope to learn about hulu and espn plus and what we'll learn about even perhaps some of their international efforts when it comes to things like india as oppose to the little we learn when apple launched its service,

well, this was not center of the playing field for apple but it is for disney. this is a monumental shift in their business that management certainly believes they must under take as you may imagine investors have a lot of questions. what are you going to learn? we'll see they are going to be forthcoming. i am hearing investment years. they're going to be forthcoming. i think jim and we'll see much more so than that. what's the thing that's going to be priced and what's the projection and how much are they giving up? these are questions investors are asking how big are the markets? how are we going to manage three different platforms, hulu and espn their plan is to come with a lot of answers it is going to be an important day. we'll be there covering it >> are you going there i am flying out. >> oh, i am not walking. >> yeah, your arms will be very

tired. >> yes, you will be there. >> yes, i will >> the slate for the rest of the year >> and the fox deal. synergy numbers. so much to get answer to and it is a full day. >> are the numbers going to come down that day? >> that's a right question, i have no idea >> you are a working thesis. >> my working thesis says investment year and he'll have lower numbers. in the context of multi year ahead by taking that reset >> david, i am hearing reset >> it is a dpragreat question i don't know the answer. i don't think we'll find out until that day >> what else are you going to do >> nothing, all day. i get there and i stay all day

>> he's bringing some games. >> dow is at 45. 28.84. let's pisani >> china is closed today if you look at the sectors today, it is the same narrative. it is the bold narrative that's winning. cyclicals are up retails have been good and industrial have been good. banks, flat today. utilities have been lagging this week that was a health for the bull narrative, look at the s&p 500, we are up 15%. we are 1.5% from the hold historic highs, that's 29.30 the bull narrative, i have been saying it the last two weeks, it is simple. it is principally of the

china/european weakness that we see is bottoming low tariffs, that earnings growth will not be negative this year and it will be in the low single digits that we'll get modern inflation and there will be no 2020 recession that's what's winning so far there is a bear narrative but it is been losing the bear narrative is china and european have been mixed and does not support a claim of abbott this high for 2020 and that's the key issue. what side of the recession debate are you on? if you believe in a recession for 2020, the market is going to have trouble in the year >> the bulls are winning look at the global markets shanghai is at a 52-week high. it is at 5% this week and it was closed over night. this european stocks of 600 and 2% that's doing better and japan is up 3%.

we are at new highs for the year sector leadership, everyday jim points it out. semiconductor have been market leaders again this week and bank and industrial are up. these are your cyclical and consumer staps ales are on the downside just watch bond yield, it started moving up on wednesday and thursday there is your 10-year yield against the s&p 500 for the last week it looks pretty good it moves and lock steps as the yield is moving up the stock market has been moving up as well the global slow down story it is not completely dead. samsung said over night they expect a 60% decline because memory chip is fading. this is a proxy. this slow-down story had not

gone away. it is not the dominant narrative. >> get to the bond pit as well checking in with rick santelli who has a nice go around are steve liesman this morning with the jobs number. >> round two, it is friday listen when i look up at treasuries, here is what i see a bit of a failure actually. look at one-week chart of two-year note yield first of all. we traded up as high as 236 right after the numbers were back down to 234 we undha we are unchanged for 2's it is back down to 250 the reason is because 238 and 255 are key technical areas of the first low close is the year that lasted into a couple of weeks ago and getting back above those would be a big deal. we got right up there which is

normal we called the kids back and we reversed a little bit. that may establish a new range we basically move 20 bases points like a staircase. if you look at bund and it is always a good reason never to use percentages on yields. last week it closed at minus 7 and right now it is plus 01. the important part here is bund yield patterns continue to mirror like all sovereigns do. we'll all link with the same move it is a matter of scaling at this point the dollar index, 90.740 what a week it had the key spot for the dollar index right around 97.67 on a

closing basis for break out. that would correlate on the mirror image on the dollar closing under 112. carl, jim, david, back to you. >> thanks, when we come back, march madness is extending into april for under armour stay tuned with our exclusive with our ceo, kevin plank. back in a moment

. what a year it is shaping up to be for the nasdaq better than 19% so far 78 points from our eight handle ere it hasn't been since october 3rd. we'll get stock trading from jim after a short break. we're carvana, the company who invented

car vending machines and buying a car 100% online. now we've created a brand new way for you to sell your car. whether it's a year old or a few years old, we want to buy your car. so go to carvana and enter your license plate, answer a few questions, and our techno-wizardry calculates your car's value and gives you a real offer in seconds. when you're ready, we'll come to you, pay you on the spot, and pick up your car. that's it. so ditch the old way of selling your car, and say hello to the new way-- at carvana. what do you look for i want free access to research. yep, td ameritrade's got that. free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees.

no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪ the latest inisn't just a store.ty it's a save more with a new kind of wireless network store.

it's a look what your wifi can do now store. a get your questions answered by awesome experts store. it's a now there's one store that connects your life like never before store. the xfinity store is here. and it's simple, easy, awesome. we're going to see the president in a few moments as he makes his way to california and nevada this weekend. bust making some comments to reporters. we'll see this in a few moments. arguing that the fed is what has slowed the economy down to the degree that it has slowed. not trade wars, he says, not the shutdown, not himself but the nine hikes we got prior to the pivot. >> it did hurt it did hurt the economy. >> the last couple maybe >> i agree

last couple. before we go over, i want to clarify i was joking about the cannabis smell i know people here are very upset. there was no cannabis smoking. i was just making a joke, okay there's people upset with me i say i apologize. >> that's the way to do it that's the way to do it. >> i apologize >> let's get to stock trading. >> i was being facetious i apologize. people are upset with me i apologize. thank you. dollar general, jpmorgan comes out this morning, big conference says it's time to buy. the stock has come back after a wayward quarter. it's breaking out. it's a good call i think dollar general is excellent. >> alder in a fight with amgen. this is about migraine

i'm involved with the migraine society. trying to explain, we see as a public service trying to explain a little awareness. big time awareness did i mention i was joking about the cannabis people think that i was being serious. i sincerely apologize. i was joking >> jim, we'll see you tonight. >> i hurt people's feelings. >> "mad money" 6:00 p.m. eastern time when we return an clivexuse with under armour kevin plank under armour kevin plank dow is up 50 ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ at adp we're.esigning a better way to work, so you can achieve what you're working for. ♪

♪ everybody is working for the weekend ♪ ♪ everybody good friday morning. welcome back to "squawk on the street". markets enjoying a pretty good friday and a very good week to openup the second quarter. getting some comments from the president mean time once again criticizing the fed also discussing the trade talks with china we expect video of that at any moment says the talks are coming along very well with china doesn't want to predict that a deal will be reached and. does say that the fed should lower rates.

>> all right let's begin with march jobs bounce back. a beat stocks are higher but does the report ease concerns over an economic slow down >> musk's day in court mostly a win for tesla ceo a federal judge telling him and the sec to work it out >> under armour ceo kevin plank will join us just ahead of the march madness final four >> surprise number for the jobs report march rebounding from that dismal february number adding 196,000 jobs 102nd straight month of job gains but does this report calm fears over a potential recession? joining us this morning goldman sachs chief economist is here. good to he see you is this the bounce you were looking for? >> yes broadly, i think, in line with expectations from -- i think it should put fears to rest the economy is slowing sharply we didn't think that because the

20,000 that was initially reported for february looked more like for outsize strength in prior months. so i think the underlying trend still looks like it's significantly above long term potential and that should probably mean gradual later market tightening. >> people point to two months of adp manufacturing losses and now our first loss here since '16. how worrisome is that? >> i don't think it's that worrisome. we knew manufacturing slowed somewhat we saw that in the business surveys in the u.s you saw that in business surveys around the world not surprising that some of that also shows up in the payroll numbers. however, we're also seeing that there's some stabilization in the global growth numbers, and china in particular has looked somewhat firmer. that's particularly important for the manufacturing sector so my expectation would be we sort of stabilize here and feenl

move back -- feel we move back. >> 180,000 jobs per month. one of the surprises it's really strong has been strong now for years. how much longer can this last? >> well, i think it will last for 2019 you know something like this because growth has been somewhat weaker recently but actually, if anything, output growth is starting to look a little bit firmer we have sort of a summary measure for the run rate of growth that looks at all of the monthly and weekly indicators that's running 2.4% which is up about half a percentage point over the past couple of months in that environment you should expect these type of numbers for the foreseeable future >> labor force participation, rick this morning was lamenting the fact it's not performing the way we thought it was starting to a few months ago. what's going on there. >> it's very noisy on a month to month basis.

there was excess enthusiasm about the increase in the last few months because you got to take these numbers with a little bit of grain of salt we're down to 63% which is effectively at the top end of the range that we've seen for the past five years. broadly what's going on is that the cyclical forces are positive labor market is improving. but the structural forces are working against that because the population is ageing those two things roughly offset one another over the longer term >> i have to ask you about the fed. we've taken it as a given now that the president asks for rate cuts didn't used to happen. happens all the time now people are arguing there's a difference between powell and cain-moore what's happening >> there's a difference. we'll see whether cain and moore end up on the board. it's too early to tell for me the main point, those is

that the fed is a consensus driven rganization it's a large committee and so any individual appointment typically does not change the overall view of the committee and the policy decisions of the committee very much i wouldn't expect, you know, a major impact if these appointments end up going through. >> and you don't see any parallels with prior attempts by other white houses to pack the fed? >> i think it all depends on how -- whether this is the start of a much longer process, and, you know, a lot more turnover in coming years i don't think it's going to make a major difference for 2019 or 2020 the further you go out the less you know about what the composition will look like and then, of course, things could change and chairmanship eventually turns over there are things that could change for now i don't think it's a

major reason to change the call. >> i feel like we're dancing around the issue the real question is on fed credibility and independence both of these people have political ties to the president in the ways that some other poi appointees did not if the president has political allies inside the fed is that a concern for investors? >> again i think it's the influence that the political allies inside the fed end up exerting and i think if you have so many political allies inside the fed that votes would turn out differently and overall thrust of the leadership would be a concern, i just don't think we're at that point. >> do we need a 50 basis point rate cut for our economy >> the economy has slowed to something closer to a trend pace there are some, you know, down

side risks around the world. i actually think a lot of they risks are easing at the margin u.s. financial conditions have largely normalized there's been a significant easing global growth is starting to look better. so eventually i think they are going to be thinking about rate hikes not rate cuts but i don't think a current rate cut in the short term would be the right thing to do. >> back to this pressure on the fed that we've been questioning you about. you have a scenario which we really have not dealt with very often. the president continually criticizing, raising the idea of firing the fed chair will chairman powell follow his own path as he indicated and simply not pay attention to what the rhetoric is coming from white house? >> that's my sense that's what we've seen from them of course there was a lot of criticism of the pivot late last year, early this year but you

can explain that pivot quite well with what in the data and in the markets first in the markets and then in the data to some degree. so i think it made sense to move in that direction. >> let's listen to the president. >> they are very, very good. our country is doing unbelievable well economically most of you don't report that because it doesn't sound good from your perspective. but the country is doing really, really well. we have a lot of very exciting things going on. a lot of companies will be announcing shortly they are moving back into the united states they are all coming back they want to be where the action is i'm heading to the border. we're building a lot of wall we'll show you a section and a lot of things are happening. a lot of very positive things are happening. >> what should the fed do with interest rates >> well i personally think the fed should drop rates. i think they really slowed us

down there's no inflation i would say in terms of quaintive tightening it should be quantitative easing we're doing very well. >> mr. president -- >> going in a little different direction. ron is a good man. we're going in a tougher direction. we want to going a tougher direction. >> what exactly is offensive about joe biden's behavior and are the right messenger for that >> i think i'm a very good messenger and people got a kick out of it. he's going through a situation let's see what happens but people got to get wis-- we to smile a little bit.

[ inaudible >> i don't see him as a threat i think he's a threat only to himself. i just don't see him as a threat he's been there a long time. his record is not good he would have to run on the obama failed record. you look at what happened with so many different things north korea. the middle east. the economy. never got going. no, i don't think joe is a threat i would love him to be look, i would be happy with any of them, to be honor nest with you. [ inaudible >> i never changed my mind at all. i may shut it down at some point but i rather do tariffs. so mexico, i have to say, has been very, very good, you know that, over the last four days. since i talked about shutting down the border. if they continue that, everything will be fine. if they don't we're going to tariff their cars at 25% coming into the united states. so every time they make a car, it's a 25% tariff.

that means we make money as opposed to losing money. we probably bring those car companies back into the united states but if on the other hand it doesn't work, which it will, 100%, the tariffs will work. just like they worked with steel. our steel industry is so hot right now because of what i did with tariffs same thing with aluminum it will work but if it didn't work i'll close the border i also am look at an economic penalty for all of the drugs that are coming in through the southern border and killing our people [ inaudible >> the china meeting was a big success. i think we're going to have -- look, we have a very good relationship we're going to see i don't want to predict a deal or not a deal but we're very well along we negotiated probably the two hardest points very successfully for our country, and china understands, you know, china has

taken advantage of our country for 30 years and we can do that any more. [ inaudible >> because mexico has been absolutely terrific for the last four days. they are apprehending everybody. yesterday they apprehended 1400 people the day before it was 1,000. if they apprehend people at their southern border where they don't have to walk through, that's a big home run. we can handle it from there. it's really good now congress has to act. they have to get rid of catch and release, chain migration, visa lottery they have to get rid of the whole asylum system because it doesn't work and, frankly, we should get rid of judges. you can't have a court case every time somebody steps their foot on our ground so very important that congress

acts but mexico, for the last four days, has never happened like that in 35 years [ inaudible >> this will supersede isusmca. it's a good deal for mexico but this will supersede usmca. >> are you going the correspondent's dinner or hold a rally? >> i'm going to hold a rally the dinner is so boring and so negative that we're going to hold a very positive rally we haven't determined. we have about three sites. everybody wants it it will be a big one but the correspond dinner is too negative i like positive things okay [ inaudible >> no, they've already got it. it's old news. he lied numerous times during his last testimony they've had that for many

months [ inaudible >> i don't know. that's up to whoever handles it. i don't know hey i'm under audit. that's up to whoever it is from what i under the law is 100% on my side. [ inaudible >> venezuela is a mess this is what socialism brings. you elect a socialist hereu'll t country that you have in venezuela. thank you. >> venezuela that's the president addressing reporters on his way to california, nevada this weekend. some fundraising in l.a. within the same minutes saying the country is doing really, really well and also saying i personally think the fed should cuts rate. i think they slowed us down. and aedes, i think for the first time, guys, that they should be quantitative easing, not just

transitioning away from quantitative tightening. >> we've been in the tightening which is part of the economy the tax cuts led to better growth last year the fed should be tightening and getting away from its emergency stimulus program known as quantitative easing. it's a radical shift for them going back buying bonds and ignore these trillion dollar levels would you think of doing that if we were doing that in a recession or crisis moment it's pretty odd he's suggesting that right now >> hasn't powell indicated he'll wrap it up >> he'll wrap it up. >> still end up with 3 trillion or something like that >> right >> actually easing >> eamon javers in washington. i guess wey talking about qe 4 >> you're right. this is a new call from the

president to go from quai quantitative tightening to easing i want you to stop raising interest rates the fed has done that. then i want you to stop selling off the balance sheet. the fed said they will wind that process down now this is a new ask from the president. he wants to go back to the obama days of quantitative easing, that was the crisis measure that the fed took in order to make sure that the u.s. economy could survive the post-2008 financial collapse in effect that what the president is asking for here. it's a new ask i talked to a senior administration official a week or two ago who told me that the president was no longer angry at jay powell because jay powell had effectively agreed with the president he was going to stop raising interest rates and effectively agreed to put a pause on the balance sheet on winding.

now the president is here asking for soelgs that's significant we have to watch what the fed does and how they react. the president was more on a trade deal with china the president announce ed companies are bringing their plants back to united states he might be ahead of something that's about to come out >> that was my question to you, whether you were aware of something that we're unaware of when it comes to companies i feel he said those kinds of things before. maybe i'm incorrect. without really any real followup >> sometimes you get that. but sometimes you get the companies themselves sort of lobbying and pr purposes with the administration teeing up these announcements privately to the white house directly to the president if they can in order

to curry that good favor sometimes these are announcements the company was going to make anyway and they present them to the white house because of the president's actions. sometimes they are things directly in response to some of the policy decisions that the president has put in place in either case the companies like to go to the white house with an advance heads up to generate that bit of goodwill. it might be the case he knows something we don't know. >> thank you so much eamon javers helping us digest what we heard from the president. steve liesman is with us seems powell's pivot of not enough >> the president considerably upping the ante here and it's important to note as sara just said quantitative easing is an emergency measure. something the federal reserve holds in its back pocket and it's been trying to extricate itself from the larger balance sheet. the fed did pivot, you might say caveed into some political

pressure in decideding to at the end of this year or third quarter stop the reduction of the balance sheet and stop at a very, very large balance sheet a balance sheet that is several trillion dollars larger than some people had complained about it was too big and going one step further saying not just cut rates but quantitative easing. it just seems very strange to me the president wants it both ways the economy is fine. we predicted 180,000 plus jobs this morning we have a slow down in the first quarter that according to all estimates is to snap back pretty smartly in the second quarter and yet the president argued the federal reserve should cut rates and engaging an emergency measure to stimulatethe economy. >> steve we just talked to jan about, again, cain and moore he doesn't seem to think if those two nominations go through it would alter the market's perception of the fed's

commitment to guard against inflation. >> i hate to do this i'm a guy that won't normalize what the president is doing. there are stories out there and past times when presidents have done things that are political at the federal reserve but let's be clear it's been several decades that anything like this has happened. in general appointments to the federal reserve, people may have had political leanings but they certainly didn't wear their politics on their chest the way these two candidates potentially would. so, jan is absolutely right. i heard that interview you guys did. ate committee. there's limited ability of a single person or two people to change the committee what you want to do is raise questions in the mind in the market about the credibility of the fed about whether a decision is being made for political reasons and not for the best reason that monetary policy or economic policy would tell us we should do something.

>> what a day between the jobs number >> great jobs number snapped back very nicely and, you know, the idea about the concern about weakness, carl, seems to have taken a back seat right here and what you see a little bit less betting in the bar market today the market going the opposite way the president wants the fed to go. >> steve, eamon javers, thank you guys meantime take a look at the rally at interfete names alphabet, facebook, netflix pushing the group higher they are up double digits for the year meantime we continue to look at snap more than doubling so far in '59. bank of ameri boa is down from the ipo in 2017 >> when we come back men's final four and for the first time two teams on the court will be dekd

out in under armour. viplk will be with us next to talk about his company and the competition. "squawk on the street" will be right back

under armour is at march madness in a big way the brand representing two of the four teams in the men's tournament kevin plank joins us now to talk about the brand and the competition. phoning in, kevin, how big is this for under armour? what does it mean? >> it's great. it's a huge, huge moment for the brand. you're right at this point iran time we've been quietly building the sport of basketball since we launched our first shoe back in 2010. you take a moment in 2014 where we had two teams in the tournament to this year we had 17 teams representing half the bracket just on the men's side now having 50% of the final four it shows the hard work we put in place, gives a little of the timeline

it's 2014, like i said, we had the first inviteee to the all-star game and then the hard work over the last couple of years and start with the women's side of the bracket having won the tournament, university of south carolina in '17. then in '18 notre dame winning notre dame continuing in '19 this year we had passporticipani the three-point contest. we had starters. and it just shows there's no silver bullet a long slow grind in this journey. we're proud where we are in basketball for sure. >> i get that you like the bragging reits and certain lie good brand exposure. does having two at the final four actually drive sales in any material way >> i think it emphasizes that the performance aspect that we take in our brand by saying this

is what and who we are our products work. we're giving teams that edge we make a promise if there's a super power inside every under armour shoe that's made. on the grassroots side there's 4,000 to 5,000 high schools playing in our uniforms. this is a great validator for them the same things that can take you to the highest level championship at the collegiate level and nba as well. >> i wonder if it hurts under armour indirectly that a nike team will not be in the final four with its star player like zion williams not playing. is that bad for rating >> i don't know. we're part of the championship business you got two amazing cinderella stories like texas tech and auburn tigers, their first final four appearances doing it wearing our brand. it under scores the fact what we're doing is right

it's a slower burn than most people would like. but our heads are down we're grinding lot of team out there winning championships. we had 11 conference champions across the ncaa bracket. out of 330 or so odd division i programs that's a major, major deal they are winning when they wear under armour >> i want to ask you about zion. expected to create the biggest bidding wars ever from the shoe companies. what's your plan to try to win that one >> i think he's a greet athlete and someone said the world deserves to see what this young man can do he's one of the best prospects to come out in a long time he'll just be a real heartbreaker for a lot of people in the nba with what he does it will be interesting we have an interesting stable. we said all along we are big enough now that we can do just about everything and anything

but we can't do everything >> how about exploding nike shoe how did you react to that? >> my first thought was for the athlete. would be a crime if anything would happen to him from a performance standpoint that world prevent. him from preventing him to play. we're focused on innovation. just an energy brand from that standpoint it just under scores the importance because something looks great doesn't mean it performs great under armour product is meant to look beautiful and have confidence it will always work and perform for you. that underscores the success we've had with teams getting in the tournament and frankly now to win a major championship. it's a major deal. >> it strikes me you're celebrating, obviously, the coaches and universities are

going to get paid handsomely what about the players should student athletes be paid for their performance and for supporting this industry that's worth billions >> well, i think there's two sides to the trade and one factor is there's tens of thousands of athletes that have the ability to go school i don't want to jump on either side of the argument i'm excited. i have a student athlete lucky enough to go to school and have my tuition paid for. you have a dialogue that will continue to play out and make being sure that parody is criticacriti critical >> you know, we talked a lot about zion, kevin. he's a superstar but no beyonce and adidas just signed her yesterday. they have kanye west you had some success with tropic

how aggressively are you going after these non-athletes, mega celebrities. >> we're pretty clear what our direction is like over the next five years being a hyper profitable company. the best way we can do that is by satisfying our consumer for under armour, the reason this brand kpichts is because we make the best technical product in the world it has to look great has to be a part of it we have to find something that represents you it goes back to 2002 we've been doing it for a long time we'll always be in these conversations. we'll find out if something is right for us beyonce is an icon bigger than just about anybody on the planet. for us right now we love our stable we love who we have. we wish them the best. >> were you a little jealous of that pickup? >> i got big eyes. we have a big appetite we can buy everything at the store either

you have to be thoughtful. if we continue to play this game of "moneyball" how we allocate dollars, we have to be smart how we do it we'll build a great women's business we have a great women's business if we focus on that a lot of consumers will come. never say never. >> on behalf of the athletes i want to ask about the competitive environment. you can't go too deep in sales in a quiet period. you have lululemon kopg 17%. nike turn around its north america business adidas is doing well where do you see yourself fitting in especially. in the u.s.? >> it speaks to the fact that to be in this space of health and wellness and athletic, it's a great grounding force. we love being in this space. i love competing i just gotback from a 12 day trip in india and mumbai and we brought michael phelps with us

you see the energy and excitement they have a diabetes problem there. all sorts of things we can do. the more we can draw attention that's the rising tide raises all ships. we're happy to be the ship the 14 year journey we had as a public company there's a lot more work this brand can do. >> you know we've seen your stock has done well. it's up 22%. out performing some competitors. we've seen some articles and some scandals from the, you know, strip club expenses to your relationship. are you putting all of this behind you should investors be worried about these kinds of issues >> looking forward we've always been moving forward. we live in a bright spotlight but we're proud of the team we have, the strategy we have in place. again articulate to our shareholders and our consumers there's a strong culture at under armour, one that's of

constant evolution we're in year three of this three year journey that we talked about, '17, '18 and '19 there's work to be done. we'll make under armour the best place to work and people will be proud of that especially consumers that wear ua on their bodies and super exclusive ua superpower in everything we do >> it's good to get an update on the transformation that investors have been following carefully. what's left to do on that list >> you get to run the same play. for so long you're not doing anything new it's implementing the new process. we switched to category management the last part of my trip i was in amsterdam where we opened our new european office. the team coming together and the positive energy. when you see this and you go outside, the u.s. has been in a bit of a lull where people have externally and sort of allowed to be in the gauntlet. but just seeing the energy for

this brand and having this global base that we can build on is powerful for us to build on and allows us to put north america, stabilize north america which we've been able to do and now we can get our ducks in a row and start to march forward i feel great where we're headed. >> final question. if texas tech and auburn both make it to the final, who do you root for >> i'm going out to the game tomorrow i can think of anything better when that decision happens i'll be there and i will be quiet but i'll be wearing blue and orange on one side and black and red on the other. we already won by having two teams in there i'm happy for those coaches and athletes you know how spoiimportant for schools to represent these are two toers they mimic the under armour story it will be a great weekend and we're proud to put our flag in

the ground and support basketball >> i was going to say you'll just cheer for both. like asking between children >> of course of course. we've already won. now the players will go and the chips will fall where they may we're looking forward to a great weekend. proud of our team. >> kevin plank, thank you very much for phoning in. thank you. >> chairman of under armour. let's get to sue herera. thank you. good morning, everyone here's what's happening at this hour british prime minister theresa may asking the eu to delay brexit until june 30th she wrote to european union president donald tusk asking for the delay to allow divided british lawmakers to agree to a withdrawal deal. police and journalists gathering outside of the ecudorian embassy after

wikileaks claimed its founder julian assange could be kicked out within hours or days he's been holed up since august of 2012. an official says no decision has been made to expell julian assange. the tokyo court has rejected an appeal by carlos ghosn's lawyers. he's being detained for ten days this to question him regarding the latest accussation of financial misconduct fbi says a man who claimed to be timothy pitzen who disappeared eight years ago is a hoax he's been detained and identified as 23-year-old ex-con victory brian reeney of medina, ohio he was released from prison less than a month ago we'll keep you posted on those developments that's the update at this hour i'll send it back down to you. thank you. sue herera back at headquarters. let's give you a quick look at

the markets. we're higher on all the major averages the s&p only up about 10 points away from 2900 as we head to break. we're back right after this. you.

all of you. how you live, what you love. that's what inspired us to create america's most advanced internet. internet that puts you in charge. that protects what's important. it handles everything, and reaches everywhere.

this is beyond wifi, this is xfi. simple. easy. awesome. xfinity, the future of awesome. >> i personally think the fed should drop rates. stlo they slowed us down. there's no inflation in terms of quantitative tightening it should be quantitative easing. they should drop rates you would see a rocket ship, despite that we're doing very well that was the president making comments earlier this hour calling out the fed once again. joining us to talk about that diane swank and david kelly. happy friday, guys good to see both of you. >> glad to be here

>> diane a couple of years ago we knew the president wanted to let this economy run hot but, again, another example of how hot he wants to let it run a rocket ship is the word he uses how does the market take this? >> right now the market is pricing out rate cuts. that's good news but one of the things i worry about there are very smart people out there that really believe the fed capitulated to the president when they did the 180 in january and one of the things we have to take into account the fed was reacting to the very policies that the administration of putting forward. trade wars tariff ban threats on china all of that wreaked havoc on financial markets and dampened growth now there's sort of a bit of a chicken and a egg. which came first it's the cart coming before the horse when the president said

the fed needs to ease. the things that caused these problems came from the administration so they are asking the fed to offset the administration's own missteps on policy >> dived, does anyone believe that qe 4 is in the universe of the possible >> not right now i'm afraid it probably will be the next time we have a recession. for right the federal reserve should do nothing. the economy is living it to us potent 2% growth. it's because the tax cut was always going to be a temporary boost to growth rates. it's a permanent boost to the level of output but a temporary boost to the growth rate of the economy. 3% coming back down 2% that's what the economy is doing. if you want the economy to grow faster you have to increase productivity and labor supply. one thing we saw in this morning's employment report labor supply came down that's the critical shortage we don't have enough workers even if we have more demand.

more demand in qe 4 would not help >> we haven't talked a lot about the wage number today. i want moderateed a little from what we saw in february. still decently above 3%. what's happening with wages and how does that fit into the overall inflation outlook? >> that's interesting. the fed believed once we saw wage gains sustained at 3% we would get sustained 2% inflation. that has failed. now we had wage gain sustained a little above 3%. now given how low the payroll number was a bit of an anomaly what i worry about is almost all wage gains were in nonsupervisory workers we are seeing one good thing out there the composition of employment gains are improving for middle income and high are paid jobs just not seeing wage gains. what the fed needs to see is more broad based wage gains and i think to david's point we likely will. immigration would be one way to

grow faster as well but of course we know the administration is against that even under a skilled workers which we have the most severe shorta shortages. >> the staff at the new york fed cut it to 2% citing noticeable loss momentum, u.s. economy towards the end of last year and start of this year does that sound reasonable to you. >> i've had that number for quite a while. i was an outlier with 2% that's a reasonable growth rate. that's above our potential as david pointed out. it's still enough to whittle down the unemployment rate and continue to get wage gains and as david pointed out accurately we're running out of workers. so that will put upward pressure that's better for workers. we've seen an uptick in prices at the pumps

workers seeing wage gains at the entry level are more sensitive to higher prices at the pump and we've seen lousy retail sales out there and i'm concerned about what that means for spending for those workers going forward. >> david, really quick your take on adequacy line up 50 scents fr cents from the lows of the year. >> i don't think the picture is that bad there were some anomalies in the retail numbers retail numbers have slowed down. i don't think there's any reason to panic we're settling down to 2% growth this expansion could last a long time just at a relatively moderate price. >> guys, appreciate it very much diane swonk, david kelly, see you soon looks like the dow is up 25 points s&p is up a third.

"squawk on the street" will be right back

stocks approach the highs one fund manager warns any good news for the stock market could already be priced in fend out how he's playing dense on trading nation. "squawk on the street" is coming "squawk on the street" is coming back.

i'm off to college. i'm worried about my parents' retirement. don't worry. voya helps them to and through retirement... dealing with today's expenses ...while helping plan, invest and protect for the future. sohey'll be okay? i think they'll be fine. voya. helping you to and through retirement. welcome back to "squawk on the street". rick santelli here live on the floor of the cme group in chicago another live moment i'm not going forget any time soon president trump talking about quantitative easing. i think it's better for the economy to soar like an eagle because i'm getting that awful queasy feeling again i just don't understand why the president looks up and sees job creation that nobody anticipated, think it goes beyond today think about how all smart experts well over a year ago said if we're lucky we can keep

up with population growth. 120, 150,000 that's all you can expect we're getting a lot more than enough sure an asterisk every now and then let's look at the board. 26,420 in the dow. boy, awfully boy, awfully close to all-time highs, s&p 500 closing in on 2890, also close, maybe not that's close. listen, i understand that the president wants a strong economy and i also understand that a strong economies important politically for the president. we're getting closer and closer to that election season, but at the end of the day, he should be pretty proud of what he's done and to me, you know, wanting qualitative easing now, jay powell has finally got where he needs to be, data dependent and data dependent doesn't mean addiction dependencies, mirroring japan. we don't want to be japan. there are plenty of lessons. now we could debate as to certain portions of qe at the right time in the beginning may

have not done damage but we can certainly see that once you get into using this tool, it's so tempting, it's like the apple everybody wants to bite that they shouldn't bite. leave it alone. mr. president, jay powell's doing a good job should the patient get sick, then call your life insurance man and talk about your policy, but we don't need it now. at least that's my feeling. david, back to you. >> thanks for sharing those feelings, rick. let's send it over to john. >> hey, david. it is ipo season by and large. take a look at lyft. it's actually up from the ipo price, slightly, but retail investors have a disadvantage versus others. we'll dig into exactly what that means as we get ready for a bunch more ipos coming up and that's coming up on "squawk alley." ♪

you should be mad they gave this guy a promotion. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis.

all right. we're about to close down our show. got a few more minutes, of course. you join us later in the day. >> yes. >> and it's one of my most important moments of my day. >> i wish you wouldn't sound so sarcastic. >> coming up on "closing bell"

today, john miller with an interesting strategy to help offset higher taxes from the salt deduction cap which is very much front and center if you live in some of those hard hit states like ours, right? also my favorite book of 2019, that's what she said, the author joanne lipman will be here "unconscious jend railroad bias in the workplace. i'm sure you know her. she's a long time media executive. this book is filled with nuggets more useful for men but also for women in just figuring out the gender bias that we have no idea even exists in workplace environments. >> you make me aware of it. >> right. >> thank you. >> but not everybody has me to do that. >> they don't. everybody needs a you. >> we'll see you this afternoon, sara. intel's down over a percent. we'll have the analyst over at wells who downgraded the name today. dow up 59, roughly 500 points from an all-time high.

"squawk alley" up next.

good morning. it's 11:a.m. on wall street and "squawk alley" is live. ♪ >> welcome to "squawk alley," i'm carl quintanilla. markets have a pretty good friday to cap a pretty good

week. shares up 5% on lyft and what you know has been a tumultuous few days for the stock trading above now where it priced but not where it opened. joining us this morning two editors in chief stephanie meta, kevin delaney. good morning. good to see you both. what's the take where you are stephanie about what these guys have been through in the past week or so >> which guys? >> lyft. good question. >> i think that -- as you guys have talked about on this show and throughout the this week, this is an example of a company that is not profitable where there is still a lot of questions about the earnings potential. a lot of the earnings growth is going to come on from something that will happen in the future which is driverless cars and therefore getting rid of a lot of their labor costs. it should come as no surprise that this is a bumpy ride not just for this week but the foreseea